BULLION OUTLOOK FOR 08-09 AUG 2017

Gold: Gold trading range for the day is 28200-28650. Gold is getting support at 28400 and below same could see a test of 28200 level, And resistance is now likely to be seen at 28500, a move above could see prices testing 28650. Gold is trading into positive zone and traders can hold long positions until Gold closes below 28000 levels. Traders can initiate long positions on every dip until Gold closes below 28000 levels.

	R2	R1	S1		S2	TREND
GOLD	28650	28500	28400		28000	Bearish

Silver: Silver trading range for the day is 37000-38000. Technically Silver is getting support at 37100 and below same could see a test of 36800 level, And resistance is now likely to be seen at 37450, a move above could see prices testing 37000. Silver is trading into positive zone and traders can go long at every dip or hold long positions until Silver closes below 37000  levels.

	R2	R1	S1		S2	TREND
SILVER	37800	37450	37150		37000	Bearish